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he praised outgoing secretary tim geithner. if confirmed, he would take over the treasury department's before the white house and congress debates the debt ceiling. this is 15 minutes. >> ladies and gentlemen, the president of the united states accompanied by some of tim geithner and sap jack lew. >> men, everybody, please have a seat. a little more than four years ago, i stood with mr. tim geithner and denounced him as my first to my cabinet. we were barely two months into the financial crisis, the stock market have quivered, the housing market had cratered as well, a bank after bank was on the verge of collapse, and worst of all, more than 800,000 americans would lose their jobs in just a bad month. and the bottom was not yet in sight. i cannot blame tim when he told me he was not the right guy for the job. [laughter] extensivet tim's experience with economic policy made him qualified and i knew he could hit the ground running. as chairman of the new york federal reserve, he had just spent several sleepless and chaotic weeks
he praised outgoing secretary tim geithner. if confirmed, he would take over the treasury department's before the white house and congress debates the debt ceiling. this is 15 minutes. >> ladies and gentlemen, the president of the united states accompanied by some of tim geithner and sap jack lew. >> men, everybody, please have a seat. a little more than four years ago, i stood with mr. tim geithner and denounced him as my first to my cabinet. we were barely two months into the...
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few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago, i had to personally get on my knees with carol, to help convince limb it stay on a little bit longer. and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families. in serving the country. the fact is, while a lot of work remains, especially to rebuild a strong middle class and offer working folks new pathways to rise into the middle class, our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. so i understand that tim is ready for a break. obviously we're sad to see him go. but i cannot think of a better person to continue tim's work at treasury than jack lew. this is bitter sweet, not only because tim is leaving. but also because jack's been my chief of staff for the last yea
few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago, i had to personally get on my knees with carol, to help convince limb it stay on a little bit longer. and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families. in serving the country. the fact is, while a lot of work remains, especially to rebuild a strong middle...
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both tim geithner and jack lew speaking, tim geithner never i think his default position is his face it looks he never looks happy to be there. he may have been but he didn't look that way. jack lew i think got a very nice description from the president, low-key, someone that gets things done and what we hear about him. >> well, thanks to you, chris, our great thanks to ruth marcus and susan paige and elizabeth bue-miller. it was fun today. that does it for this edition of "andrea mitchell reports." tamron hall is here with a look at the next hour. >> we are following several big stories. coming up, the minister set to deliver the benediction at the president's inauguration withdraws after comments in the '90s of gay rights and referred to as the homosexual lifestyle. the inaugural committee said it was unaware of the minister's past. right now, vice president biden is meeting with the nra. the vice president says tuesday is the day, we can mark our calendars, he'll deliver the task force recommendations to the president. what might we see? >>> charlie rangel has harsh words for the
both tim geithner and jack lew speaking, tim geithner never i think his default position is his face it looks he never looks happy to be there. he may have been but he didn't look that way. jack lew i think got a very nice description from the president, low-key, someone that gets things done and what we hear about him. >> well, thanks to you, chris, our great thanks to ruth marcus and susan paige and elizabeth bue-miller. it was fun today. that does it for this edition of "andrea...
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all signs point to president obama say i knowing him to replace tim geithner. and if he is nominated and confirmed, that will mean that our money might end up looking like this. because that is jack lew's signature on it. if he doesn't choose to tune up the legibility of the loop de loops like tim geithner did, our money mite look like this. what "new york" magazine described as a slinky that has lost its spring, republicans in washington are hinting that we won't actually have to worry about seeing jack lew's wacky signature on our money. they're saying he doesn't have to worry about changing the signature to it looks good on the money because he, jack lew, will never be the guy who has to actually sign the money. he will never be treasury secretary. politico.com today to be, quote, scoffing at the notion of jack lew as treasury secretary. mitch mcconnell is said to have been irked by mr. lew in the past. republican senator from nebraska, mike johanns called lew a controversial pick. the reasonable he is controversial is, quote, i think there are nick policies
all signs point to president obama say i knowing him to replace tim geithner. and if he is nominated and confirmed, that will mean that our money might end up looking like this. because that is jack lew's signature on it. if he doesn't choose to tune up the legibility of the loop de loops like tim geithner did, our money mite look like this. what "new york" magazine described as a slinky that has lost its spring, republicans in washington are hinting that we won't actually have to...
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. -- tim geithner. this is 15 minutes. >> ladies and gentlemen, the president of the united states, accompanied by tim geithner and jack lew. >> a little more than four years ago i stood with mr. tim geithner, the first nominee to my cabinet. we were two months into the financial crisis. the stock market had cratered. bank after bank was on the verge of collapse. worst of all, more than 800,000 americans would lose their jobs in just that month. at the bottom was probably not yet in sight. i could not blame tim when he told me he was not the right guy for the job. [laughter] but on news that tim's extensive experience with economic policy made him eminently qualified and i knew he could hit the ground running. as chairman of the federal reserve, he had just spent chaotic weeks emerged in the crisis and had been working with the treasury to save the financial system. then when the wreckage -- with the wreckage of our economy still smoldering, i asked tim to help us put it back together. thanks in large p
. -- tim geithner. this is 15 minutes. >> ladies and gentlemen, the president of the united states, accompanied by tim geithner and jack lew. >> a little more than four years ago i stood with mr. tim geithner, the first nominee to my cabinet. we were two months into the financial crisis. the stock market had cratered. bank after bank was on the verge of collapse. worst of all, more than 800,000 americans would lose their jobs in just that month. at the bottom was probably not yet in...
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the fdic in the room, tim geithner, chairman ben bernanke. we did not at that point need tarp. we were asked to, because we were told incorrectly, if nine banks take this tarp, we can stop the sysm from going down. we did not borrow from the federal reserve except when they ask us to. they said, please use these facilities. it makes it easier. we were not bailed out by aig. we may be would of had a direct loss of $1 billion or $2 billion if aig went down. >> you have a difference of opinion of many analyy s who felt the aig bailout did benefit you enormously. i'm not going into this. this is not your hearing. i'm asking you to respond to questions. i only have five minutes. >> that was oregon democratic senator questioning jamie dimon from jpmorgan. the significance? >> one thing that is interesting is this is what the about inspector calls -- calls for original sin. the moment in time went right after tarp was passed and the government elected to call companies that were unhealthy and insolvent, healthy and solvent. when they scrapped the plan to buy out troubled assets, tarp
the fdic in the room, tim geithner, chairman ben bernanke. we did not at that point need tarp. we were asked to, because we were told incorrectly, if nine banks take this tarp, we can stop the sysm from going down. we did not borrow from the federal reserve except when they ask us to. they said, please use these facilities. it makes it easier. we were not bailed out by aig. we may be would of had a direct loss of $1 billion or $2 billion if aig went down. >> you have a difference of...
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[laughter] no one embodies that ideal better than tim geithner. i had to get on my knees two years ago to convince him to stay on a little bit longer, and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that are cabinet members ask of their families in serving their country. the fact is, while a lot of work remains, especially to build new pathways for working folks to rise into the middle class, our position is better for tomorrow than most of the countries hit by the financial crisis. the tough decisions have been made and carried out. i understand that tim is ready for a break. obviously, we are sad to see him go. i cannot think of a better person to continue tim's work at the treasury than jack lew. this is bittersweet not only because tim is leaving, but because jack has been my chief of staff for the last year. he was my budget director before that. i trust his judgment. i know fewer people with greater integrity than the man to my left. i do not want him to go, because it is worki
[laughter] no one embodies that ideal better than tim geithner. i had to get on my knees two years ago to convince him to stay on a little bit longer, and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that are cabinet members ask of their families in serving their country. the fact is, while a lot of work remains, especially to build new pathways for working folks to rise into the middle class, our position is better for tomorrow...
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thanking tim geithner there. lori: we also have rich edson i believe on site who will check in a little bit later throughout the afternoon. we can't to keep you aprized of other day's headlines. a rise in jobless claims. that of course raising new questions about when the job market will show real strong improvement. ftn financial economist lindsay piegza breaks it down with tracy byrnes and ashley webster next here on fox business. don't miss it ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. ashley: good afternoon, everyone, i'm ashley webster. tracy: and i'm tracy byrnes. we have some breaking news. president obama task jack lew to be the new chief of treasury just in time for a critical battle over the national debt. he has one vocal critic in the senate
thanking tim geithner there. lori: we also have rich edson i believe on site who will check in a little bit later throughout the afternoon. we can't to keep you aprized of other day's headlines. a rise in jobless claims. that of course raising new questions about when the job market will show real strong improvement. ftn financial economist lindsay piegza breaks it down with tracy byrnes and ashley webster next here on fox business. don't miss it ♪ [ male announcer ] how do you make 70,000...
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few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago -- [ laughter ] >> i had to personally get on my knees with carol to help convince him to stay on a little bit longer. and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families in serving the country. the fact is while a lot of work remains, especially to rebuild a strong middle class and offer working folks new pathways to rise into the middle class, our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot credit for that. so i understand that tim is ready for a break. obviously we're sad to see him go. but i cannot think of a better person to continue tim's work at treasury than jack lew. now this is bittersweet not only because tim's leaving, but also because jack's been my chief of staff for
few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago -- [ laughter ] >> i had to personally get on my knees with carol to help convince him to stay on a little bit longer. and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families in serving the country. the fact is while a lot of work remains, especially to rebuild...
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are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social security and tax reform. later, he served two stints as the country's budget director, first under president clinton, then under president obama, before becoming white house chief of staff. today, in the east room of the white house, the nominee voiced his gratitude. >> thank you mr. president for your trust confidence and friendship. serving in your administration has allowed me to live out those values my parents ensiled in me and i look forward to continuing with the challenges ahead. >> brown: lew, and other top administration officials, face the immediate task of negotiating with republicans o
are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social...
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few embody that ideal better than tim geithner. >> tim geithner looks like he is about to explode with laughter listening to the president say that but the phrase is no peacocks, no jerks, no whiners. i mean jerks and whiners, we all get that. but the peacocks part here i think is a term of art. i don't think they mean peacocks in a generic way, i think they mean in a way that is specific to the treasury. here is what i mean. peacocks as birds are strutters, right? they puff their chests out. they like making a big show of their big fantastic feathers, and no offense to our corporate overlords, i'm aware that you can see one particular tiny little peacock often at the top of our screen right now while i am talking. in politics, the peacock metaphor means you are talking about somebody who struts and doesn't deserve to be strutting. someone who talks the talk, but doesn't really walk the walk. and in the case of the treasury in particular, the president's no peacocks line was put into further context when he went on in his remarks to introduce the new treasury secretary nominee just a f
few embody that ideal better than tim geithner. >> tim geithner looks like he is about to explode with laughter listening to the president say that but the phrase is no peacocks, no jerks, no whiners. i mean jerks and whiners, we all get that. but the peacocks part here i think is a term of art. i don't think they mean peacocks in a generic way, i think they mean in a way that is specific to the treasury. here is what i mean. peacocks as birds are strutters, right? they puff their chests...
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are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social security and tax reform. later, he served two stints as the country's budget director first under president clinton, then under president obama before becoming white house chief of staff. today, in the east room of the white house, the nominee voiced his gratitude. >> thank you mr. president for your trust confidence and friendship. serving in your administration has allowed me to live out those values my parents ensiled in me and i look forward to continuing with the challenges ahead. >> brown: lew, and other top administration officials, face the immediate task of negotiating with republicans on
are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social...
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geithner. both of them have their control over the policies that led to the crisis. in my mind, that opened the door to the tea party. it opened the door to right-wing populism. people saw in this white house favoritism towards goldman sachs and the banks. the problem was the left populism has not emerged until now. for too long, many felt with the bomb in the white house that things would be sorted out. that is where movements become important. every administration in modern times has had to deal with insurgency's or movements on its left and right. reagan in many ways was a movement president. i say that with contempt for what he did in damage to this country. you need to see the pendulum has now swung. the tea party in many ways has lost a lot of this mojo because of overreach. it is out of sync with the values of so many people. we could have seen that in the summer of 2009. one of tea party people stood up and said "government, take your hands off my medicare." you see how internalized tho
geithner. both of them have their control over the policies that led to the crisis. in my mind, that opened the door to the tea party. it opened the door to right-wing populism. people saw in this white house favoritism towards goldman sachs and the banks. the problem was the left populism has not emerged until now. for too long, many felt with the bomb in the white house that things would be sorted out. that is where movements become important. every administration in modern times has had to...
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geithner set to step down at the end of the month. so, kim, tell us about jack lew, who is he? what does he believe? >> well, he's mostly, i think, this is important, a creature of washington. he had a brief interlude out at citigroup, but a lot of time working in a political capacity and does in fact make him a much different creature for a position like the treasury secretary than we have in the past, folks who have come from that often out of the business world, established economists, might come from the fed. this is a person viewed by congress and many, by many people here in washington a more of an ideologue. >> and with the clinton administration, i know republicans thought he was an honest liberal, anybody he's emerged under this president as much more implacable. and mr. lew makes a lot of appearances, almost always in the role, when you see mr. obama and boehner making progress. he throws the monkey wrench and pretty much tanking the negotiations and makes him poison for republicans and a problem in his capacity as treasury
geithner set to step down at the end of the month. so, kim, tell us about jack lew, who is he? what does he believe? >> well, he's mostly, i think, this is important, a creature of washington. he had a brief interlude out at citigroup, but a lot of time working in a political capacity and does in fact make him a much different creature for a position like the treasury secretary than we have in the past, folks who have come from that often out of the business world, established economists,...
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tim geithner was a banking man tapped to handle a banking crisis. jack lew is a budget guy being brought in to handle the government's fiscal disaster. on the hill, a handful of republicans oppose lew's confirmation but survived the process twice in four years at omb director and deputy secretary of state. we have jake sherman here. we're hearing yet another white man added to a cabinet with quite a few white men and dwindling number of females s. the president and the team feeling president to add some more diverse faces to the team? >> they released a photo showing that president obama does, in fact, have female advisers in the inner circle and more opportunities yesterday. solis said she was stepping down from the labor department which she ran since the beginning of the administration. transportation is a role that they've been wishy-washy on whether ray la hood would say and more opportunities. susan rice is still around but a pr disaster for the white house. on the front page of "new york times," not something you want to do as trying to get y
tim geithner was a banking man tapped to handle a banking crisis. jack lew is a budget guy being brought in to handle the government's fiscal disaster. on the hill, a handful of republicans oppose lew's confirmation but survived the process twice in four years at omb director and deputy secretary of state. we have jake sherman here. we're hearing yet another white man added to a cabinet with quite a few white men and dwindling number of females s. the president and the team feeling president to...
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few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago, i had to personally get on my knees with carol to help convince him to stay on a little bit longer, and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families in serving the country. the fact is, while a lot of work remains, especially to rebuild a strong middle class and offer working folks new path ways to rise into the middle class, our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. so, i understand that tim is ready for a break. obviously, we're sad to see him go, but i cannot think of a better person to continue tim's work at treasury than jack lew. now, this is bittersweet not only because tim is leaving, but also, because jack's been my chief of staff for the last
few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago, i had to personally get on my knees with carol to help convince him to stay on a little bit longer, and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families in serving the country. the fact is, while a lot of work remains, especially to rebuild a strong middle class...
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unlike tim geithner who never worked on capitol hill he has a sense how to get deals done in congress. secondly he comes from the liberal wing of the democratic party. i talked to him when i worked on my book about the budget, red ink, last year. he believes in the power of government. he is not going to be very sympatico with people like paul ryan who believe the whole role of the budget exercise is to shrink the government. three, he is realist, pragmatist. he understands if we don't do something to slow the growth of enlightment spending there won't be room to do all the things investment in infrastructure, all those things that matter a lot to the president and to jack lew himself. i suspect that he will be, spend nearly all his time on budget matters and he has a chance of being a deal-maker here, even though so far he hasn't been very successful in that. melissa: what does it mean in terms of the job the treasury secretary does? that if you are known to embrace, more liberal economic policies what would you expect practically to see him do? >> well, it's not the first time we ha
unlike tim geithner who never worked on capitol hill he has a sense how to get deals done in congress. secondly he comes from the liberal wing of the democratic party. i talked to him when i worked on my book about the budget, red ink, last year. he believes in the power of government. he is not going to be very sympatico with people like paul ryan who believe the whole role of the budget exercise is to shrink the government. three, he is realist, pragmatist. he understands if we don't do...
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but to depict the treasury secretary, generally speaking, it is a job that converts tim geithner will know what his politics were. wall street was comfortable with him. neil: layoffs were announced today with american express. >> well, look, it's the greatest thing the world that taxes will go up on 99% of the people. and spending will go unchecked. it's that our government. it's bad for our country long-term. that is exactly what we see, and you are seeing something similar act in 1824 when we had the jacksonians that they block whatever they were going to do. neil: there is something that touched her greatness. a greatness of the movie. hollywood sees this opportunity to do more of this type of stuff. is that true? >> more of what? >> one historical movies. neil: ben affleck was nominated for a movie he was an. >> in. >> yes, i think he has a career in movies. but not in politics. i think he is going to do well and do his next project. also don't forget that the director was snubbed for "zero dark thirty." neil: is that right? so hollywood could be reversing that. >> maybe they are
but to depict the treasury secretary, generally speaking, it is a job that converts tim geithner will know what his politics were. wall street was comfortable with him. neil: layoffs were announced today with american express. >> well, look, it's the greatest thing the world that taxes will go up on 99% of the people. and spending will go unchecked. it's that our government. it's bad for our country long-term. that is exactly what we see, and you are seeing something similar act in 1824...
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no one embodies that better than tim geithner. that is why when he thought about leaving a couple of years ago, i had to get on my knees two years ago to convince him to stay on a little bit longer, and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that are cabinet members ask of their families in serving their country. the fact is, while a lot of work remains, especially to build new pathways for working folks to rise into the middle class, our position is better for tomorrow than most of the countries hit by the financial crisis. the tough decisions have been made and carried out. i understand that tim is ready for a break. obviously, we are sad to see him go. but i cannot think of a better person to continue tim's work at the treasury than jack lew. this is bittersweet not only because tim is leaving, but also because jack has been my chief of staff for the last year. he was my budget director before that. i trust his judgment. i value his friendship. i know fewer p
no one embodies that better than tim geithner. that is why when he thought about leaving a couple of years ago, i had to get on my knees two years ago to convince him to stay on a little bit longer, and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that are cabinet members ask of their families in serving their country. the fact is, while a lot of work remains, especially to build new pathways for working folks to rise into the...
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. >> reporter: so remember a few weeks back when we told you how treasury secretary tim geithner said he figured out a way to keep the government defaulting on the debt for two months? not so fast. a new analysis by the bipartisan policy center says the u.s. may default a month earlier than expected. they say the government will likely run out of money to pay its bills between february 15th and march 1st. we hit the $16.4 trillion debt limit on december 31st. the treasury department said they were taking "extraordinary measures" to put off default. the debt ceiling debate is set to be the next big showdown in washington. both republicans and democrats have vowed to hold firm in their position. >>> and speaking of government spending, a report published monday says the obama administration spent $18 billion on immigration enforcement last year, more than on all the other federal law enforcement agencies combined and 15 times greater than immigration spending in 1986. the nonpartisan research group the migration policy institute says immigration has become the government's highest law e
. >> reporter: so remember a few weeks back when we told you how treasury secretary tim geithner said he figured out a way to keep the government defaulting on the debt for two months? not so fast. a new analysis by the bipartisan policy center says the u.s. may default a month earlier than expected. they say the government will likely run out of money to pay its bills between february 15th and march 1st. we hit the $16.4 trillion debt limit on december 31st. the treasury department said...
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>> it's somewhat refreshing but in a way tim geithner was not of wall street either. he was not someone who went to work for a citigroup which lew did. >> bill: he was there as -- government official. >> geithner worked as head of the new york federal reserve which oversees the banking system. did go to work with citigroup. >> bill: oh, that's right. >> a number of people recruited by bob ruben. that is not itself any kind of indictment but the question does rise does he reflect the same sort of very restrained view, if you will, of regulation of wall street that i think geithner and ruben have over the years. and that's what we're going to find out. i wanted to point out in my article that, in fact, a lot of these rules are really being fought over right now and there is a lot of agitation among people who do follow this on capitol hill about the too big to fail problem. the fact that these banks the five or six biggest banks are larger than they were -- they've taken over a lot of businesses from other banks that have failed. the rule which is supposed to restrain r
>> it's somewhat refreshing but in a way tim geithner was not of wall street either. he was not someone who went to work for a citigroup which lew did. >> bill: he was there as -- government official. >> geithner worked as head of the new york federal reserve which oversees the banking system. did go to work with citigroup. >> bill: oh, that's right. >> a number of people recruited by bob ruben. that is not itself any kind of indictment but the question does rise...
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Jan 10, 2013
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. >> and when tim geithner was picked, having worked closely with hank paulson at the federal reserve bank during the crisis, people were comforted by that. they said, well, maybe he's not so liberal. well, as it happened, larry summers was an advocate of more stimulus than others in the administration. so you can't necessarily read that much. events are going to dictate, i think, whether this president adapts his own view necessary a way that people interpret it as going to the center or not. but for the moment, he knows where he is and where he wants to go. and he's picking somebody who can help them achieve his agenda. >> you know, the thing you point out, that this is a situation where business leaders probably wanted one of their own, they may argue they want somebody in there looking for pro growth policies. but maybe more important is somebody who was very familiar with the financial markets. that was somebody that tim geithner created a lot of confidence because he knew the markets so well, knew the underworkings. and when there were big issues, you knew there was somebody who
. >> and when tim geithner was picked, having worked closely with hank paulson at the federal reserve bank during the crisis, people were comforted by that. they said, well, maybe he's not so liberal. well, as it happened, larry summers was an advocate of more stimulus than others in the administration. so you can't necessarily read that much. events are going to dictate, i think, whether this president adapts his own view necessary a way that people interpret it as going to the center or...
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geithner. a sign the white house expects a big fight over the federal budget lew is the safe pick. he has been confirmed twice by the senate before. just in this administration. if confirmed in time, he can face his first test next month over the debt ceiling. lew is a walk among walks. described in one profile by the huffington post. quote, as harry potter grew up and replaced his magic wand with excel spread sheets. if confirmed lew will be the highest ranking orthodox you don't in government. he grew up in queens. brings his own lunch to work. chose sandwich and an apple which he eats at his desk and still commutes back and forth to new york. catching a train home every friday to spend weekends with his wife. he is well liked in the white house. the p came to depend to the act not many people in washington know the budgeting process. >> jack's economic advice has been invaluable and he has my complete trust both because of his mastery of the numbers but because of the values behind those num
geithner. a sign the white house expects a big fight over the federal budget lew is the safe pick. he has been confirmed twice by the senate before. just in this administration. if confirmed in time, he can face his first test next month over the debt ceiling. lew is a walk among walks. described in one profile by the huffington post. quote, as harry potter grew up and replaced his magic wand with excel spread sheets. if confirmed lew will be the highest ranking orthodox you don't in...
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succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know, may be a little affinity, we grew up in the same town. >> that alone could be good. >> different generation. >> maybe a technocrat is what's necessary. no one tells me this guy is acrimonious. the talks may have been. but when we're trying to figure out what to cut, maybe you just need a guy who knows his way around the budget as opposed to a federal reserve guy. i thought tim geithner did a great job, though, and i know i find myself in the minority on that, but he came to the rescue of the system in apparel husband time and i think he good a remarkable job. >> jack lew is well respected by both sides of the aisle
succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know, may be a little affinity, we grew up in the same town. >> that alone could be good....
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Jan 11, 2013
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tim geithner had a messy signature in his past, but on the bill it's completely legible. looks like alexander hamilton. >>> next, aig has thought better about suing the federal government over the terms of the 2008 bank bailout. yes, the same taxpayer funded bailout that brought them $200 billion and saved them from bankruptcy. anyway, before the news of the potential lawsuit, aig launched an ad campaign thanking taxpayers for the bailout money. in light of the planned lawsuit, conan o'brien offered an alternative. >> aig, we said we were going to turn it around, and we did. >> we're now leaner and focused on what we do best. >> a profit of more than $22 billion. >> we turned it around. >> [ bleep ] you, america. >> [ bleep ] you, america. >> [ bleep ] you, america. >> from all of us at aig, seriously america, go [ bleep ] yourselves. >> it's tough to see how they even toyed with the idea of a lawsuit against the same government that saved them from bankruptcy. >>> next, if you're in congress and planning to oppose the next round of victims of hurricane sandy, you best no
tim geithner had a messy signature in his past, but on the bill it's completely legible. looks like alexander hamilton. >>> next, aig has thought better about suing the federal government over the terms of the 2008 bank bailout. yes, the same taxpayer funded bailout that brought them $200 billion and saved them from bankruptcy. anyway, before the news of the potential lawsuit, aig launched an ad campaign thanking taxpayers for the bailout money. in light of the planned lawsuit, conan...
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Jan 7, 2013
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current chief of staff jack lew of management and budget is considered to be tim geithner's most likely successor and that's deputy national security adviser denis mcdonough. anything could change, but those could be the most likely picks. other members of the administration suggest they're heading for the exits and you would assume the stuff starts ranking up in the next week or so. lisa jackson announced her departure at the end of january and rebecca blank who took over in june after secretary bryson went on medical leave. also expected to leave ray lahood and ken salazar and steven chu. likely with appointments of lew and mcdonough you'll hear more voices demanding more diversity in that cabinet, if you will. how does the president end up solving that problem and create a cabinet that, "looks like america." >>> all right, picking a fight over the president's pentagon pick. one thing the left and the right can agree on. chuck hagel may have an uphill battle in the senate. next, we'll get the view from both sides. former romney campaign adviser dan seymour and dan clemens will be here
current chief of staff jack lew of management and budget is considered to be tim geithner's most likely successor and that's deputy national security adviser denis mcdonough. anything could change, but those could be the most likely picks. other members of the administration suggest they're heading for the exits and you would assume the stuff starts ranking up in the next week or so. lisa jackson announced her departure at the end of january and rebecca blank who took over in june after...
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geithner. >> and the reason i say that is look, i -- i'm 67 years old. i have been gone from home for over a dozen years, doing various public service things. and i have come home, i have got nine grandchildren under seven, and i really want to stay home. so i don't want a full-time job either in the public or private sector. >> one final question, how disappointed were you that the president rejected the simpson-bowles recommendations? >> well, look, i was disappointed at the time. but i came to understand was that his goal was to use it as a framework for his discussions that he had with speaker boehner back in gosh, almost two years ago now. in his first effort to get a grand bargain. he felt that was the best way to be successful. if he had been right, he would have proven to be a political genius. unifor unfortunately, he was not. they didn't get a deal one and i was very disappointed. >> yeah, i think that was an historic moment to get that grand bargain. i know you worked hard on it with other members of the commission. it was clearly a missed opp
geithner. >> and the reason i say that is look, i -- i'm 67 years old. i have been gone from home for over a dozen years, doing various public service things. and i have come home, i have got nine grandchildren under seven, and i really want to stay home. so i don't want a full-time job either in the public or private sector. >> one final question, how disappointed were you that the president rejected the simpson-bowles recommendations? >> well, look, i was disappointed at the...
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. >>> president obama has more spots to fill in his cabinet, tim geithner is expected to leave sometime around the nomination. there's a vacancy at the cia since general david petraeus stepped down. a source tells cnn a short list includes counter terrorism and homeland security adviser john brennan as well as acting cia director michael morel, the man wearing the red tie in the video. >>> the attorney for one of the two ohio teenagers charged with rape wants a judge to postpone and move his clients trial. the 16-year-old high school football players are charged with sexually assaulting a girl last summer. the alleged attack took place at several parties over the course of the night. adam told cnn he wants the case moved out of steubenville. >> given its publicity and what we perceive as threats to individuals, perhaps witnesses and also defendants and defense council, we're concerned about safety issues at this point. secondly i'm concerned about whether or not the kid should be tried in this area. perhaps the fact that it is in the steubenville area is it's going to prohibit certain p
. >>> president obama has more spots to fill in his cabinet, tim geithner is expected to leave sometime around the nomination. there's a vacancy at the cia since general david petraeus stepped down. a source tells cnn a short list includes counter terrorism and homeland security adviser john brennan as well as acting cia director michael morel, the man wearing the red tie in the video. >>> the attorney for one of the two ohio teenagers charged with rape wants a judge to...